Latin America is drawing early investment for jet fuel produced from materials like forest residues and palm oil as emission-conscious airlines scour emerging markets for less-polluting fuel to power flights, industry executives say.
Performance Materials and Technologies unit is talking to companies about 12 proposed SAF projects in the region valued in the billions of dollars, up from three projects in 2018, an executive told Reuters.
Production of SAF, which can reduce emissions by up to 80% from conventional fuel, is used in an up to 50-50 blend with kerosene and remains scarce. It should hit 300 million liters in 2022 according to airline trade group IATA, but that is less than 1% of total fuel consumed by carriers. "In order to be successful, SAF needs to be available across the globe," Juan Carlos Salazar, secretary general of the International Civil Aviation Organization said.
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